Cohen & Steers, Inc. (NYSE:CNS) Plans $0.55 Quarterly Dividend

Cohen & Steers, Inc. (NYSE:CNSGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Monday, August 15th will be given a dividend of 0.55 per share by the asset manager on Thursday, August 25th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, August 12th.

Cohen & Steers has a dividend payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings.

Cohen & Steers Price Performance

Cohen & Steers stock opened at $74.74 on Friday. Cohen & Steers has a one year low of $62.01 and a one year high of $101.22. The business has a fifty day moving average price of $69.34 and a 200-day moving average price of $76.56. The firm has a market capitalization of $3.64 billion, a P/E ratio of 17.54 and a beta of 1.38.

Cohen & Steers (NYSE:CNSGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Cohen & Steers had a return on equity of 81.96% and a net margin of 34.11%. The firm had revenue of $147.70 million during the quarter, compared to analyst estimates of $138.26 million. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Cohen & Steers from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th.

Insider Buying and Selling

In related news, CAO Elena Dulik sold 1,200 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $74.28, for a total value of $89,136.00. Following the sale, the chief accounting officer now owns 20,854 shares in the company, valued at $1,549,035.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cohen & Steers

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its position in Cohen & Steers by 130.4% during the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 446 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Cohen & Steers during the first quarter valued at about $89,000. Great West Life Assurance Co. Can raised its position in Cohen & Steers by 17.8% during the first quarter. Great West Life Assurance Co. Can now owns 2,461 shares of the asset manager’s stock valued at $222,000 after purchasing an additional 372 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Cohen & Steers during the first quarter valued at about $471,000. Finally, PNC Financial Services Group Inc. raised its position in Cohen & Steers by 7.3% during the first quarter. PNC Financial Services Group Inc. now owns 12,091 shares of the asset manager’s stock valued at $1,038,000 after purchasing an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 47.26% of the company’s stock.

About Cohen & Steers

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Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.

See Also

Dividend History for Cohen & Steers (NYSE:CNS)

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